Ooredoo Oman on Wednesday announced that its net profit for the first nine months of 2023 dropped by 44.4% to RO7.9mn, compared to RO14.2mn reported in the same period of 2022.
The company’s revenue for the first nine months of 2023 decreased by two per cent to RO193.1mn, compared to RO197.1mn in the corresponding period of the previous year.
‘Revenue is lower mainly due to lower mobile prepaid and fixed revenue. This is partially offset by higher device revenue and ICT revenue,’ Ooredoo said in its financial report submitted to the Muscat Stock Exchange.
However, the telecom company recorded significant growth in the number of both prepaid and postpaid subscribers in 2023.
Ooredoo’s mobile prepaid customer base increased by 9.8% to 2,212,903 customers for the first nine months of 2023, compared to 2,016,188 customers at the end of the same period in 2022. The mobile postpaid customer base grew by 2.1% to 729,798 customers, compared to 715,114 in the same period of 2022.
Source: Zawya
